Will I get Social Security when I retire?

Given that the Social Security Administration is in shambles, and that my parents will be retiring along with tens of millions of baby boomers within the next 20 years, is there any hope that I will get Social Security checks when I retire?

I think this is one of the main reasons for people my age to become politically active. If we don't stand up for our right to have what's ours, in 50 years, the government will tell us, "Well, that's a shame. You should have stood up for it when you first noticed that SS was dead!"

 

[boggsie]

Go BLUE! | University of Michigan Class of 2006

I refuse to participate in your poll!

 

[boggsie]

die double post, die

 

[Antisocial Virge]

well, if your 61 now yes. If your 9 then probably not unless something happens.

 

[bubbadu]

Originally posted by: boggsie

Originally posted by: boggsie

Go BLUE! | University of Michigan Class of 2006

I refuse to participate in your poll!

 

[amdskip]

I'm not expecting much if anything at all. Don't depend on the gov't, start saving now!

 

[imported_Mike]

Originally posted by: Antisocial-Virge
well, if your 61 now yes. If your 9 then probably not unless something happens.

exactly

 

[dirtboy]

I think you will get it, but at a much later age then people are getting it now.

 

[zephyrprime]

I got news for you guys. The SS retirement age for young people is currently 67 not 65. I saw this at the SS administration while I was doing the paper work for my dad's retirement. So SS benefits are already being reduced.

As near as can be told, with the current system, you will get SS but you will get a lot less. Only ~60% of what people get now (adjusted for GDP increases) if they don't raise taxes.

http://www.cbo.gov/showdoc.cfm?index=3213&sequence=4

 

[flxnimprtmscl]

When it's our time we aren't seeing a dime of our money.

 

[DaveSimmons]

Given the massive deficit this administration is running every year, after another 5 years and 2+ trillion of added debt, a big chunk of your social security will be stolen to pay for the interest (another $80 billion a year at 4%).

Conservative = fiscal responsibility? Doesn't look that way right now. Instead of actually funding the tax cuts, we're going even deeper into debt to givie well-off old folks free drugs to get them to vote Bush in '04.

Not that I'm bitter

 

[gooseman]

I wouldn't count on it too much.

 

[chowderhead]

I will collect Social Security when ....

 

[Ornery]

"...this is one of the main reasons for people my age to become politically active."

Guess you won't be voting for the party of these two!

Answers to Frequently Asked Questions about Social Security

• What is Social Security Choice?
  Why does Social Security need reform?
  What is the Social Security Trust Fund?
  What are the benefits of private retirement accounts?
  I don't know how to invest. How would I manage under a system of individual accounts?
  I have been paying Social Security taxes for years. Would I get anything back out of that?
  Social Security provides disability and survivors benefits. What would happen to them under a reformed system?
  What are the alternatives to individual accounts?
  Isn't the stock market too risky?
  Could the government invest the money instead?
  What would happen to me if the money in my account isn't enough to provide for my retirement?
  How would individual accounts affect women?
  I'm a full-time homemaker, what will happen to me at retirement? What would happen if I divorced?
  How would voluntary retirement accounts affect the middle class?
  I'm a low-wage worker. How would individual accounts affect me?
  I've heard that individual accounts would help minorities. Is that true?
  How would Social Security reform affect the economy?

 

I think of it as regular taxes that i will never see again.

 

[zephyrprime]

Given the massive deficit this administration is running every year, after another 5 years and 2+ trillion of added debt, a big chunk of your social security will be stolen to pay for the interest (another $80 billion a year at 4%)

That's not really possible. It would be like borrowing money from your credit card to pay interest on the same credit card. The current SS trust fund is entirely consumed to finance the debt. In fact, that's what a large part of the debt is. The government borrows money from SS to pay for its expenditures. (it borrows other money also.)

 

[IGBT]

S.S. is nothing more then a book entry..there is no SS fund. Start saving for your own retirement...

 

[glugglug]

If you are not at least 55 yet, then no chance in hell.

 

[Vic]

No.

Social Security will begin to fail in 2008, with the final demise beginning sometime shortly after 2012. As with all Ponzi schemes, it will fail when the number of people collecting exceed the number paying in.

 

[Vilica]

From what I recall of my American Welfare State class, the current projections are for money to start decreasing around 2012 with it done at 2020 in the worst-case, 2025/2040 in the middle case, and 2050/2070 in the best case. So no, I'm not getting it.

 

[DPOverLord]

Considering that bush sux ass and we are running into the biggest deficit we have ever seen... (werent we in a huge surplus before he came.... ) Well vote him out and maybe you will. I like Dean & liebermen currently myself.

 

[Cyberian]

Originally posted by: zephyrprime
I got news for you guys. The SS retirement age for young people is currently 67 not 65. I saw this at the SS administration while I was doing the paper work for my dad's retirement. So SS benefits are already being reduced.

Retirement age is already 66 for those who are 59 now.

 

[BatmanNate]

Originally posted by: DPOverLord
Considering that bush sux ass and we are running into the biggest deficit we have ever seen... (werent we in a huge surplus before he came.... ) Well vote him out and maybe you will. I like Dean & liebermen currently myself.

Dean's politics aren't going to ammend the SS program any better than Bush's are going to dig us out of debt. It's pretty simple math, not as many people contributing as receiving, eventually a point will be reached when it collapses. That's the fundamental flaw in schemes like this. We'd be much better off without SS in the first place, up to each to save and plan for their own retirement. Most employers offer 401k plans where the money is saved for you, not given to those who are retired.

 

[Ornery]

Those fvcktards will NOT support Social Security Privatization!

Thanks to you Democrat Socialists, we're stuck with friggin' Social Security in the first place. Thanks. Thanks a lot! :|

 

[Miramonti]

encourage all your friends to make babies, and encourage all the babies to get jobs and you'll be ok.

A population explosion is on your side.